An invoice for $2678.50 dated April 15 has terms 1½ /15, EOM
a. When does the discount period end?
b. When does the credit period end?
c. What payment on April 30 will reduce the outstanding balance by $800?
d. If an additional payment of $800 is made on May 5, what will be the new balance?
e. What further payment on May 10 will reduce the outstanding balance to $800?

Question

An invoice for $2678.50 dated April 15 has terms 1½ /15, EOM 
a. When does the discount period end?
b. When does the credit period end?
c. What payment on April 30 will reduce the outstanding balance by $800?
d. If an additional payment of $800 is made on May 5, what will be the new balance?
e. What further payment on May 10 will reduce the outstanding balance to $800?

Quizplus · Accepted Answer

The Answer of An invoice for $2678.50 dated April 15 has terms 1½ /15, EOM 
a. When does the discount period end?
b. When does the credit period end?
c. What payment on April 30 will reduce the outstanding balance by $800?
d. If an additional payment of $800 is made on May 5, what will be the new balance?
e. What further payment on May 10 will reduce the outstanding balance to $800?

An Invoice for $2678